Since its October 2025 peak, Bitcoin has declined 48% from its all-time high (ATH), failing to sustain an upward trend. This extended market weakness has driven losses higher for long-term institutional holders, pushing many firms to a breaking point where they are not only capitulating but exiting positions entirely.

KULR Technology Transfers $9.45 Million in Bitcoin

Companies that rushed to accumulate Bitcoin (BTC) during late 2024 and 2025 — driven by fear of missing out — have found themselves operating at sustained losses. Several have been forced to sell to limit further damage. KULR Technology Group, Inc. (KULRTech) is one such Bitcoin treasury company — a growing category of corporations that hold BTC as a reserve asset on their balance sheets rather than traditional cash or bonds.

KULR has been aggressively reducing its BTC holdings over recent months. According to Arkham data, KULR transferred 145.8 BTC, valued at $9.45 million, to Coinbase Prime, the institutional trading and custody platform widely used by corporations managing large digital asset positions. Following multiple transfers, the company's holdings have dropped from 1,021 BTC (approximately $101 million) to just 100 BTC (approximately $6.47 million).

Throughout its selling activity, the company has largely exited at a loss. AMBCrypto previously reported that KULR's Bitcoin holdings had recorded over $18 million in losses. With only 100 BTC remaining, the company's holdings represent a small fraction of its prior position.

The impact on KULR's stock has been substantial. Yahoo Finance data showed that the company's share price declined 78% from its ATH of $43, recorded after it announced its BTC investment strategy. As of this writing, the stock was trading at approximately $2.7.

Bitcoin Treasury Holdings Decline $47 Billion from 2025 Peak

KULR Technology Group joins a growing list of Bitcoin treasury companies operating at a loss and actively reducing their holdings. While these firms have collectively increased their BTC positions in 2026, total portfolio values remain significantly below peak levels.

In 2025, Bitcoin treasury companies held 1.02 million BTC, valued at approximately $128.5 billion at peak prices. These firms now hold 1.25 million BTC worth $81.5 billion — marking a $47 billion decline in value despite holdings increasing by 230,000 BTC. Strategy (formerly MicroStrategy), the largest corporate Bitcoin holder and one of the earliest public companies to adopt a BTC treasury strategy, for example, is currently carrying approximately $9 billion in unrealized losses on its position.

The continued selling activity from these major institutional holders has reduced the capital base that played a significant role in Bitcoin's 2024–2025 rally. With holdings having increased by 230,000 BTC since October 2025 while aggregate value dropped from approximately $128 billion to $81 billion, the gap between acquisition cost and current market value underscores the extent of losses across the sector.